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The Treasury Department on Wednesday sanctioned an Iranian agency attempting to control the Strait of Hormuz.<\/p>\n
In a release<\/a>, the department said the Persian Gulf Strait Authority (PGSA) \u2014 which the Iranian government formed earlier this month to manage the passageway<\/a> \u2014 is a \u201cnew attempt by Iran\u2019s Islamic Revolutionary Guard Corps (IRGC) to monetize its campaign of state-sponsored terror by extorting vessels\u201d transiting the strait.<\/p>\n The department added that \u201canyone cooperating with the so-called strait authority may be providing support to and receiving services from\u201d the IRGC, which exposes them to sanctions risk.<\/p>\n \u201cThe Iranian military\u2019s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash,\u201d Treasury Secretary Scott Bessent said, referring to the Trump administration\u2019s campaign targeting the Iranian economy.\u00a0<\/p>\n \u201cThrough Economic Fury, the United States has imposed a financial stranglehold on the world\u2019s leading state sponsor of terrorism. Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions.\u201d<\/p>\n Under international law, compliant ships can travel through international waterways unimpeded, without having to pay a toll imposed by a country. But Iran is not a signatory<\/a> to the United Nations Convention on the Law of the Sea, which grants that right to ships.\u00a0<\/p>\n Earlier this month, the PGSA said the boundaries<\/a> of its management supervision area extend from the \u201cline connecting Kuh Mobarak in Iran and the south of Fujairah in the United Arab Emirates (UAE) in the east of the strait to the line connecting the end of Qeshm Island in Iran and Umm al-Qaiwain in the UAE in the west of the strait.\u201d<\/p>\n \u201cFrequencies in this range for passing through the Strait of Hormuz require coordination with the Persian Gulf Waterway Management and a permit from this entity,\u201d the authority added<\/a>.\u00a0<\/p>\n Since the U.S. and Israel launched strikes on Iran at the end of February, the IRGC has restricted shipping through the Strait of Hormuz, resulting in a global increase in oil and gas prices.<\/p>\n In April, the U.S. responded by starting a naval blockade of Iranian ports. U.S. Central Command said that as of Saturday<\/a>, U.S. forces had redirected 100 commercial vessels as part of the blockade.<\/p>\n Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n